Power prices rose alongside the fuels markets while carbon prices hovered around 53€/t

The European power spot prices for today are slightly up compared to Friday, supported by the higher fuels prices and forecasts of above-average temperatures and weaker wind production. The day-ahead prices hence reached 90.37€/MWh on average in Germany, France, Belgium and the Netherlands, +6.13€/MWh from Friday.

With low exchanged volumes, the EUAs traded overall sideways around 53€/t on Friday despite the stronger fuels complex and forecasts of hot weather for the upcoming days as the market continued to digest European Commission proposals to revise the EU ETS, the lack of strong direction taken by the carbon prices pointing to an absence of real surprise for the market participants from the reforms disclosed.

Meanwhile, the European Commission updated the free allocation table data on the EU Registry log for a few additional countries, with now 15 countries having their data uploaded and a hand out of free allowances scheduled to be stretched out over H2 2021.

With the neutral variation of the carbon market, the power prices tracked the higher gas and coal underlying prices and posted moderate gains along the curve on Friday.